Convicted Washington Con Man Who Defrauded Hundreds Escapes Prison

Authorities say a Mercer Island man who was convicted five years ago for one of the biggest fraud schemes in Washington state history has 'walked' away from a CA prison.

55-year-old Frederick Berg was discovered missing from a minimum security work camp near Atwater, CA last Wednesday afternoon.

Berg, who was arrested seven years ago after bilking hundreds of people out of over $100 million dollars, was doing 18 years for his role in the Ponzi scheme through his investment company Meridian Group. He used investor funds to buy everything from Lear Jets to million dollar homes, according to Yaktrinews.com.

His victims included several hundred Washington state residents, part of a total of some 800 people were cheated.

He was discovered missing from the work crew near the prison in Central CA. He is not considered dangerous, but officials have not said if they have any leads. Although he was sentenced in Federal Court in Seattle, he was doing time in CA due to a lot of his crimes being committed there.